All companies experience, manage and live with risks to a greater or lesser extent. Just not everyone is talking about it. And not everyone who gets the risks listed, evaluated, sorted and treated in a controlled manner.
Risks arise in many places in the company. In the daily operation, it is for example in the projects, when choosing suppliers and customers and when hiring and firing employees. At the business level, there are also risks. Some are larger and more complex, while others can have serious consequences. For example, there may be a shortage of skilled labor or the prospect of a changing market. At that level, it may be relevant to share risks with the management team or even with the board. It can often be a good idea to link risk management and strategy.
Risk management follows this process:
It is thus about moving from a risky condition to an acceptable condition by working with these terms:
Assess and prioritize risks
Define actions that address the risks
Perform and follow up on the effect of the actions
This management requires systematics. I have readily available tools and methods for managing risks both in operations and at the business level. Finally, I facilitate the process from identification to target management and follow-up.
As a business leader or owner, you will find that risks put into the system become much easier to deal with and it will have a positive impact on your night's sleep.